Crypto exchanges see $3B $ETH Eth exit since ETF approvals
Over $3 billion worth of Ether has been removed from centralized crypto exchanges since the May 23 approval of spot Ether exchange-traded funds in the United States — signaling a potential upcoming supply squeeze. The amount of Ether on exchanges fell by around 797,000 between May 23 and June 2, equivalent to $3.02 billion, according to CryptoQuant data. Lower exchange reserves imply fewer coins are available for sale as investors move their own coins to self-custody for purposes other than immediate selling.
